Is Cardano Coin a Fraudulent Luxury Coin?

Cardano founder Charles Hoskinson once again took the opportunity to talk about the bright future prospects of his blockchain technology. From his point of view, it is a necessity, and the media does not pay much attention to his project. He said:

“If you follow the digital media and listen to the Cardano forum, you will get the impression that Cardano does not exist. It is all just a fictional scam and nothing has been done so far either what has been done or what is being developed.”

At the same time, he announced that hundreds of developers are working tirelessly so that the Fassel Hard Fork contract can be released in June.

This is expected to deliver a "massive performance boost," because in addition to the tube isolation technology new Plutos, UTXO to disk and Hydra-CIP will be delivered, Hoskinson explained:

“As many of you know, there is going to be a big, big, big launch event for the Hard Fork technology in June. This is the Vassell Hard Fork, and this event will include Insulation Tube technology [one of the pillars of Cardano’s expansion], which means a massive improvement in Cardano’s performance.”

“Along with variable tweaks, these features will increase Cardano’s productivity and optimize the system to handle the growing number of Decentralized Financial Applications (DeFi), smart contracts, and DEX.

Technical signs on the direction of Cardano
Cardano failed to stabilize above the $1.00 threshold which is psychologically significant. This level is now significant resistance, along with the 50% Fibonacci retracement at $0.9958.

Only if Cardano can maintain the rally above this level will it start to recover towards the 38.2% Fibonacci retracement at $1.0544.

Meanwhile, the 61.8 and 78.6% Fibonacci retracement levels at $0.9372 and $0.8540 represent the key support levels.

By Marco Uhrl